James Investment Research Inc. Acquires New Stake in Qorvo, Inc. (NASDAQ:QRVO)

James Investment Research Inc. acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 17,300 shares of the semiconductor company’s stock, valued at approximately $1,095,000.

A number of other hedge funds have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. boosted its position in Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 552 shares during the last quarter. IFP Advisors Inc boosted its position in Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 670 shares during the last quarter. NEXT Financial Group Inc boosted its position in Qorvo by 145.6% in the first quarter. NEXT Financial Group Inc now owns 2,321 shares of the semiconductor company’s stock valued at $158,000 after buying an additional 1,376 shares during the last quarter. Penserra Capital Management LLC bought a new position in Qorvo during the first quarter valued at approximately $191,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Qorvo by 180.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,800 shares of the semiconductor company’s stock valued at $192,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 97.09% of the company’s stock.

Qorvo, Inc. (NASDAQ:QRVO) traded down 2.14% during mid-day trading on Friday, hitting $69.67. 1,285,178 shares of the company traded hands. The company’s 50-day moving average price is $67.77 and its 200 day moving average price is $69.17. The company’s market capitalization is $8.87 billion. Qorvo, Inc. has a one year low of $48.28 and a one year high of $79.34.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The firm had revenue of $640.80 million during the quarter, compared to the consensus estimate of $632.18 million. During the same quarter in the prior year, the firm posted $1.08 EPS. The business’s revenue was down 8.3% on a year-over-year basis. On average, analysts anticipate that Qorvo, Inc. will post $5.54 earnings per share for the current fiscal year.

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Several brokerages have recently issued reports on QRVO. Mizuho reaffirmed a “hold” rating and issued a $70.00 price objective on shares of Qorvo in a research note on Friday, August 4th. BidaskClub raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Friday. MKM Partners reaffirmed a “buy” rating and issued a $90.00 price objective (up previously from $78.00) on shares of Qorvo in a research note on Tuesday, May 30th. Drexel Hamilton reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Qorvo in a research note on Tuesday, August 1st. Finally, Canaccord Genuity lifted their price objective on shares of Qorvo from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. Qorvo presently has a consensus rating of “Hold” and an average target price of $73.28.

In other Qorvo news, Director John R. Harding sold 3,260 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $71.79, for a total transaction of $234,035.40. Following the completion of the transaction, the director now owns 6,322 shares of the company’s stock, valued at approximately $453,856.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Steven E. Creviston sold 26,911 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $77.00, for a total value of $2,072,147.00. Following the completion of the sale, the vice president now directly owns 153,644 shares of the company’s stock, valued at approximately $11,830,588. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,895 shares of company stock valued at $9,874,096. Insiders own 0.91% of the company’s stock.

About Qorvo

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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